By Genevieve Cunningham
Owning a house and owning land are two different things. Sure, they generally come in a packaged deal, but they are two separate worries and two separate responsibilities. Just because you have the money and time to own a home does not mean that you have the money or time for any additional land. Yet … the idea of having a little space around your home is quite appealing. So which should you choose? Before you jump into your next home purchase, take a look at why opting for a little more land may not be worth it after all.
It Costs More
Let’s get the most obvious thing out of the way first: More land costs more money. If you have a certain amount of money to spend, this probably includes both land and house. So the more land you buy, the less house you can afford. Whether or not this is worth it depends entirely on your personal preference and only you can determine whether more house or more land is higher on the priority list.
It’s a Lot More Upkeep
Land is a lot of work. It has to be mowed, weeded, and tended to on a regular basis. This requires both time and money in order to keep it up. Before you buy, you should consider this aspect of owning land and ask yourself a few questions. Do you want to spend time or money on upkeep? Do you have the means? Is the work worth the payoff? Once you’ve answered these questions, you can more easily determine what is right for you and your situation.
It Might be Unnecessary
Is more land around your house a want or a need? While we all want a little more space between us and our neighbors, it might not be necessary. Desired? Absolutely. Necessary? Maybe not. If you don’t need the extra space, it might help you save a lot of money to skip it. If you have the extra cash, go for it. If you don’t have the cash, and you don’t need the space, weight your options and choose wisely.
A little extra land around your place is a nice thing to have, but it may not always be worth it. In the long run, you have to weigh your needs and wants, the difference in price, and then make an informed decision for yourself and your family. Use these ideas as a starting point, and get just the right amount of land for the home of your dreams.